This article delves into the rich and fascinating history of the Kenyan shilling, tracing its journey from pre-colonial times to its current status as the basic monetary unit of Kenya. Long before Kenya began printing and minting its own currency in 1966, under the Central Bank of Kenya Act, cap 491 mandate given to the Central Bank of Kenya (CBK), various forms of currency were being used as legal tender in the country.
Let's embark on a journey through time to uncover the origins and evolution of this important aspect of Kenyan heritage.
Evolution of Kenya's currency || New currency roll out
Early Forms of Currency in Kenya
The earliest use of currency in Kenya can be traced back to the 1800s and 1850s at the Kenya Coast. It was at that time the Maria Theresa Thalers were introduced. The Thalers were 18th and 19th Century silver coins used by Indian, Greek and European merchants at the Eritrean and Kenyan coasts. However, the Thaler was not able to penetrate into the mainland, remaining a popular currency only along the East African Coast.
It is 1949. Kenya is under British colonial rule. However, the barter trade system had one major downside. Measuring how much a product was worth in exchange for another was impossible. The arrival of the Arabs on the coast and Indian ocean further complicated the barter trade system. The traders had no choice but to embrace proto currencies like cowrie shells (Cypraea Moneta), cloth, wire and beads as the dominant form of money.
It was the Indian Rupee that emerged in the late 19th century, during the construction of the Kenya-Uganda railway, that gained wide acceptance across the region. The Indian Rupee was introduced as payment for the Indian workers building the railway line.
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One year later in 1897 Harry Jackson, leader of the British East African Protectorate (BEAP), tried to introduce a new currency with the hope of superseding the Rupee. It was known as ‘Specie’ (or ‘Pice’). The Specie did not become the success it was intended to be. In 1905 the Indian Rupee was made the official currency of the BEAP. It was produced in 1/2, 1, 5, 10, 20 and 50 Cent coin denominations. There were notes as well in denominations of 1, 5, 10, 20, 50, 100 and 500 Rupees.
But the Indian Rupee did not last long either. It was soon abolished after Kenya became a crown colony in 1920 when IBEA’s mandate was terminated.
A central body known as the East African Currency Board was then established to oversee the issuance of currency in the region. The board introduced an intermediate currency based on the English Florin with the thought of easing the transformation from rupee to shillings. The body reported to the secretary of state for colonies under the advisory of the Bank of England.
The exit of the Indian Rupee paved way for the short stint of the East African Protectorate Rupee. The Rupee was to later be replaced by the East African Florins. In January 1, 1922 the shilling equivalent was introduced in all the three East African countries. By June 1923, the EA shilling was firmly established as official currency in Kenya, Uganda and the then Tanganyika (present day Tanzania).
In 1962, the East African Countries formed a common East African Central Bank. The notes were in the denominations of 5, 10, 20 and 100 shillings. For the first time, Hindi was dropped on the notes and replaced by Swahili. In 1964, after the three East African nations had bagged their independence, there was talk of establishing a common East African Central Bank. The bank issued its first interim banknotes that used Lake Victoria as a background picture, hence their name, the Lake Victoria Money.
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The Lake Victoria notes existed in denominations of 5, 10, 20 and 100 shillings. There were a few coins which were popularly known as ‘Uhuru’ coins. These initial regional currencies did not have a head or monarch printed on them.
One hundred-shilling banknote from Kenya (front side). Image source: Audrius Tomonis - www.banknotes.com
The Kenyan Shilling Emerges
With CBK’s blessings, the first Kenya shilling notes were issued. They bore the face of Kenya’s first president, Jomo Kenyatta and came in denominations of 5, 10, 20, 50 and 100 shillings. Since then there have been several changes as 2 more heads of state have come to power.
On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/= and 100/=. 5/= notes were replaced by coins in 1985, with the same happening to 10/= and 20/= in 1994 and 1998.
The first coins were issued in 1966 in denominations of -/5, -/10, -/25 and -/50, and 1/= and 2/=; -/25 coins were not minted after 1969 (except in the 1973 set); 2/= coins were last minted in 1971 (except in the 1973 set). Between 1967 and 1978, the portrait of Jomo Kenyatta, the first president of Kenya, originally appeared on the obverse of all of independent Kenya's coins.
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As with the coins, Kenyatta appeared on the banknotes issued until 1978, with Daniel arap Moi's portrait replacing him in 1980. In 2003, after Mwai Kibaki replaced Moi as president, 5/=, 10/=, and 20/= notes from the 1978 series with Kenyatta's picture that had been in storage were issued, and circulated for a time. A new series of notes was then introduced on which Kenyatta reappeared in denominations of 50/=, 100/=, 200/=, 500/= and 1,000/=.
The issue of the 200/= banknote dated 12 December 2003 commemorates the "40 years of Independence 1963-2003". On 31 May 2019, the Central Bank of Kenya issued a new family of banknotes without the portraits of known Kenyan individuals, as mandated by the Constitution of Kenya of 2010. At the same time, the Central Bank of Kenya has withdrawn all previous versions of the 1,000/= banknote.
All of the banknotes for this series share a common design of the Kenyatta International Convention Centre on the front side of the notes, and the back side of the notes feature images showcasing the richness of the people and nature of Kenya: "Green Energy" (50/=), "Agriculture" (100/=), "Social Services" (200/=), "Tourism" (500/=) and "Governance" (1,000/=). On 11 December 2018, a new series of coins was issued, in denominations of 1/=, 5/=, 10/= and 20/=.
One hundred-shilling banknote from Kenya (back side). Image source: Audrius Tomonis - www.banknotes.com
The 1 Shilling Coin: A Closer Look
The 1 shilling coin is a current circulation piece of the Republic of Kenya that was produced in five main types from 1966 to 2010. The first type was issued briefly from 1966 to 1968, during the early administration of President Jomo Kenyatta (c. 1889-1978). It was followed by a similar piece that made its appearance in 1969, and continued to be minted until Kenyatta's death in 1978. That year Daniel arap Moi (1924-) assumed leadership of Kenya, and a new 1 shilling bearing his likeness was introduced.
This third type was made in two subtypes, the initial one manufactured intermittently from 1978 to 1989, and the second struck solely in 1994. Moi introduced another 1 shilling piece near the end of his presidency, in 1995, and this continued to be minted until 1998. In 2005, under President Mwai Kibaki (1931-), the most recent type made its début, which incorporated design aspects from the second and fourth types. Examples of all five types continue to be circulated in Kenya, carrying valid legal tender face values equivalent to 1.00 shillings.
Kenyatta Era (1966-1978)
Under Jomo Kenyatta, the first President of Kenya, the Kenyan shilling was established that year, replacing the previous shilling at par. The newly established Central Bank of Kenya (CBK) commissioned the Royal Mint at Tower Hill, London, to produce the first series of Kenyan coins, consisting of denominations of 5, 10, 25, and 50 cents, and 1 and 2 shillings. Such pieces were minted annually until 1968. The following year, in 1969, the CBK requested for the creation of a modified series of circulation coins of the same denominations.
British sculptor Norman Sillman (1921-2013), who designed the initial series, was tasked with engraving the second. With the exception of the 25 cent and 2 shilling coins, which were only minted until 1973, all of the second series coins were made until Jomo Kenyatta's death in 1978. Both versions of the 1 shilling coin are composed of a cupronickel alloy and have a mass of approximately 8 grams, a diameter of 27.8 millimeters, and a thickness of 1.65 millimeters. They bear reeded edges and have medallic alignment, and like most coins, are round in shape.
The obverse of both coins features a left-facing bust of Jomo Kenyatta in the center, which shows the president with his signature mustache and pointed beard, wearing a suit and tie on his upper torso. On the earlier of the two types, this illustration of Kenyatta is the only item present on the obverse. However, "THE FIRST PRESIDENT OF KENYA" is inscribed above the depiction on the second type, traveling in a clockwise direction from the left to right rims of the piece. Often considered the Father of the Nation in Kenya, Kenyatta's name was often prefixed with mzee, a local Swahili word meaning "elder". This is reflected on the 1 shilling coin, on which "MZEE JOMO KENYATTA" is printed counterclockwise from the left to right peripheries of the obverse.
This text and the aforementioned legend are separated by two small, circular points. Due to the presence of this text, Kenyatta's portrait is smaller on later pieces. Aside from the dates of issue, the reverses of both types are identical. Featured in the middle of the reverse is a large rendition of the coat of arms of Kenya - which consists of a traditional East African shield divided into three fields, the one in the center bearing a rooster holding an ax. This shield is supported in the arms by two lions holding spears and standing on the silhouette of Mount Kenya, which is covered with coffee, maize, pyrethrum, sisal, pineapples, and tea, and partially concealed by a scroll bearing the Kenyan national motto "HARAMBEE", Swahili for "all put together".
Printed below the arms is the numeral "1", identifying the face value of 1 shilling. The value appears again as "ONE SHILLING" along the bottom periphery of the coin, extending counterclockwise from the bottom left to right rims. The Gregorian date of minting is written horizontally in Western Arabic numerals at the middle of the coin, the first two digits separated from the last two by the arms. A total of approximately 32,000,027 examples of the first type were produced, including 32,000,000 business strikes and about 27 proofs dated 1966. A mintage of about 104,856,515 specimens of the second coin was made, which includes 104,856,000 business strikes and 515 proofs.
Moi Era (1978-2002)
Daniel Toroitich arap Moi served as the third Vice President of Kenya under Jomo Kenyatta until the latter's death. Moi then succeeded Kenyatta as president in 1978, and continued to rule the country for 24 years until largely retiring from politics in 2002. During the first year of Moi's administration, the Central Bank of Kenya commissioned the Royal Mint, relocated to Llantrisant, Wales, in 1968, to produce a new series of coins featuring the likeness of the new leader. This series contained the same denominations as the previous series, albeit excluding the discontinued 25 cent and 2 shilling pieces.
Norman Sillman was again tasked with the design of the Kenyan coins. The 1 shilling coin remained unchanged for the next three years of minting - 1980, 1981, and 1989 - but in 1994 the composition was altered to a cheaper alternative. The earlier of the two subtypes is composed of cupronickel, while its later counterpart is made of nickel-plated steel. Both coins weigh approximately 8 grams and measure 27.8 millimeters in diameter and 1.65 millimeters in thickness. Both have medallic alignment and a reeded edge, and are round in shape.
Displayed in the center of the obverse is an illustration of President Daniel arap Moi wearing a suit and tie and facing ½ right. The official title of Moi's position, "PRESIDENT OF REPUBLIC OF KENYA" is engraved above Moi's likeness, traveling in a clockwise direction from the upper left to upper right boundaries of the obverse. Written counterclockwise below the depiction of the president in a slightly larger font is the caption "DANIEL TOROITICH ARAP MOI". Such text commences at the lower right rim and concludes at the lower right. Moi's name and title are divided by empty spaces at the left and right sides of the obverse.
Aside from the dates, the reverse is identical to that on the coins of Jomo Kenyatta. The coat of arms of Kenya appears in the middle, the state title "REPUBLIC OF KENYA" inscribed in a clockwise direction above and the value "ONE SHILLING" engraved in the opposite direction below. The total mintage of the first 1 shilling coin of Daniel arap Moi is currently unknown. Business strikes were produced during 1978, 1980, 1989, and 1994, and a handful of proofs were included in sets from 1978 and 1981.
In 1995, during the later presidency of Daniel arap Moi, the Central Bank of Kenya authorized the production of a new series of coins, again commissioning the Royal Mint to design and produce the pieces. Such a series, consisting of denominations of 10 and 50 cents, and 1, 5, and 10 shillings, was reportedly designed by Norman Sillman. The second 1 shilling coin of Moi is composed of brass-plated steel. It is considerably smaller than previous Kenyan shillings, having a mass of 4.35 grams, a diameter of 22 millimeters, and a thickness of 1.6 millimeters. The edge of the piece alternates between reeded and plain, having four segments of each. The coin has medallic alignment and is round in shape.
The bust of Moi that appears on the previous series of Kenyan coins is displayed in the center of the new coin's obverse. It is accompanied by the caption "PRESIDENT DANIEL TOROITICH ARAP MOI", which is written in a clockwise direction from the bottom left to right peripheries of the coin. Such text is considerably larger and more prominent than that on the earlier pieces of Moi's presidency. Although a large space below the central effigy divides the beginning and end of the aforementioned legend, a small circular point is engraved at the bottom of the piece, in the middle of the empty field.
The shilling produced from 1995 to 1998 is the first of the denomination to feature a redesigned reverse. The numeral "1", identifying a face value of 1 shilling, is engraved in a large font in the center of the reverse. It is followed below by the coat of arms of Kenya, which is considerably smaller than on the earlier Kenyan shillings. The Gregorian date of minting is printed horizontally in Western Arabic numerals along the middle of the piece, and like on the coins of Kenyatta and the first pieces of Moi, the initial two digits are separated from the final two by the arms. In contrast, however, there is more space between the numbers and the arms. "REPUBLIC OF KENYA" is engraved along the upper periphery of the piece, traveling in a clockwise direction from the left to right boundaries of the reverse. The total mintage of the second shilling of Daniel arap Moi is currently unknown.
Kibaki Era (2002-2013)
Daniel arap Moi remained President of Kenya until his retirement in 2002. Mwai Kibaki, a Kenyan politician and government office holder under both Jomo Kenyatta and Moi, was then elected as his successor that year. Kibaki would continue to hold office until 2013, when he handed power over to Uhuru Kenyatta (1961-), Jomo Kenyatta's son. During the final years of Moi's administration and first few years of Kibaki's leadership, no Kenyan coins were produced. However, in 2005 the Central Bank of Kenya called for the introduction of a new series of circulation pieces.
With initial plans to issue coins in denominations of 5, 10, and 50 cents, and 1, 5, 10, and 20 shillings, only the higher five denominations were released. All of the pieces bear previous designs made by Norman Sillman. The shilling made under Kibaki is composed of nickel-plated steel. Weighing 5.5 grams and measuring 23.9 millimeters in diameter and 1.9 millimeters in thickness, it is slightly larger than the second type of Moi, but still smaller than the initial Moian pieces and both coins of Kenyatta. The edge of the newer piece alternates between reeded and plain, with four segments of each. The coin has medallic alignment and is round in shape.
In spite of being struck during Kibaki's administration, Sillman's portrait of Jomo Kenyatta from the shillings issued from 1966 to 1978 appears on the obverse. Like on the second type introduced under Kenyatta, "THE FIRST PRESIDENT OF KENYA" is written clockwise along the upper periphery of the coin, and "MZEE JOMO KENYATTA" is inscribed in the opposite direction along the bottom rim, both starting and ending near the same point. Both legends are separated from each other by two small circular points.
Excluding the date, the reverse is identical to that prepared for the second shilling type of Daniel arap Moi. The numeral "1", representing the coin's value of 1 shilling, appears in the center, a small Kenyan coat of arms displayed below. The Gregorian date of minting is written horizontally in Western Arabic numerals in the middle of the piece, the first two digits separated from the last two by the arms. The total mintage of the shilling from Kibaki's presidency is currently unknown.
Current Banknotes and Coins
Current denominations of banknotes and coins in circulation include 50 cent, 1, 5, 10, 20, 40 shilling coins and 50, 100, 200, 500 and 1,000 shilling notes.
The Central Bank of Kenya introduced an updated series of banknotes beginning with the KES 1,000 denomination in 2024. This newly released banknote retains a similar design to the previous series but features several key updates.
Summary of Key Historical Currencies in Kenya
The table below summarizes the key currencies that have shaped Kenya's monetary history:
| Currency | Period of Use | Key Features |
|---|---|---|
| Maria Theresa Thaler | 1800s-1850s | Silver coins used by Indian, Greek, and European merchants along the East African coast. |
| Indian Rupee | Late 19th Century | Introduced during the construction of the Kenya-Uganda railway. |
| East African Protectorate Rupee | Short stint after abolishment of Indian Rupee | Replaced by the East African Florins. |
| East African Shilling | 1922-1966 | Official currency in Kenya, Uganda, and Tanganyika. |
| Kenyan Shilling | 1966-Present | Replaced the East African shilling, with portraits of Kenyan presidents on banknotes and coins. |
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